2. IR
  3. Management Policy
  4. Mid-Term Management Plan

Mid-Term Management Plan

as of February 12, 2016
Our mid-term 5 year management plan developed in 2013 is now being implemented. In 2015, with our target value already in sight, we re-evaluated the plan's details and devised a new three year plan inclusive of 2018. We are now working hard to achieve its aims.


The Nippon Air Conditioning Group's management philosophy is "bringing together the technological capabilities and human resources to maintain optimal environments and give our clients peace of mind through top quality service." Based on this, we strive to cultivate human resources and high quality technological assistance to provide great service for our stakeholders while contributing to society as a whole. Our group has formulated the current plan as part of a management strategy that seeks to realize continual growth and clearly indicate target value outlook.

Management Strategy

Target Value

as of May 14, 2018

Our group considers per share net earnings an especially important management indicator. According to our current plan, we aim for ¥45 per share by FY03/2019. Further, we are pursuing international expansion, with a goal of profits from overseas earnings at 10%.

Net sales (Million Yen) 41,275 42,579 43,143 45,467 48,000
Operating income (Million Yen) 2,144 2,323 2,394 2,481 2,500
Ordinary income (Million Yen) 2,215 2,378 2,482 2,579 2,600
Net income attributable to shareholders (Million Yen) 1,187 918 1,497 1,561 1,600
Net income per share (Yen) 34.45 26.53 42.77 44.54 45.76

* Effective April 1, 2016, we have implemented a common stock split of 2-for-1. In lines with the current plan, stock splits will not be adjusted.

Dividend Policy

Through this plan, while improving profits targeted as funds for dividends, we will maintain dividend levels, with the prospect of consolidated payout ratio of 50%.

This page's content is based on various conditions. We are unable to completely guarantee the plan's implementation and projected value.